Common use of PAYMENT GUARANTEED BY BOND Clause in Contracts

PAYMENT GUARANTEED BY BOND. (8/21) To guarantee payment, Purchaser may furnish and maintain an acceptable surety bond. The penal sum of such surety bond shall be the maximum amount of the payment guaranteed. For payment purposes, penal sum of the surety bond shall be in lieu of the performance bond furnished under C9.1.

Appears in 8 contracts

Samples: Service Timber Sale Contract, www.fs.usda.gov, www.fs.usda.gov

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!